Reshade doesn't load in STALKER SoC after 3.0.3

For some reason, with reshade 3.0.4 and beyond, it does not hook properly into S.T.A.L.K.E.R. Shadow of Chernobyl. Reshade 3.0.4 causes the game to crash, and the latest release (3.4.0) lets the game load without issue, but reshade does not load. I have tried disabling all mods in case those were causing the issue.

Here are the d3d9.logs for each version (plus the crash data from STALKER for 3.0.4)

I did a little digging, it seems that when using the "Static lighting" setting (rather than Object Dynamic Lighting or Full Dynamic Lighting), Reshade does hook properly. If I recall correctly, Static Lighting only uses D3D8 features (but on a D3D9 machine will still load D3D9 by default), while the Dynamic Lighting options use more advanced D3D9 extensions.
For comparison, here is the debug log I get when using Full Dynamic Lighting (using commit 6d77575634da14b1aa6a57fca2d10f42c2e03c5c):